Who says the holidays are slow? In Incline, the market was almost as hot as the grocery store crowds.
This week there was quite a bit of activity and our office saw several walk in clients as well.
New Listings: This week there were only two new listings both PUDs or Planned Unit Developments (Freestanding condos). 1324 Tirol is also back on the market with pre-approval from the 1st lien holder on this short sale. What a GREAT deal at $285K.
Price Changes: There were only three price changes…2 condos and 1 Single Family Home (SFH). The Pinebrook condo at $81K is a short sale, but if you can get the bank to approve it…it’s a good deal. The last two sold just recently for $89 and $90K. The SFH on Sutro Court reduced to $410, but it’s not enough!
New Escrows: This week there were a few escrows to report…1 condo, 1 PUD and 5 SFH were snapped up by busy buyers trying to get the deals while they are hot and interest rates are still low. Beware looky loo’s as the longer you wait, the inventory is getting picked over and interest rates are on the rise. You may be pricing yourself out of the market!
Sales: This week there was only 1 closed transaction on a condo. This was a GREAT deal on a nice, clean condo in Mountain Shadows. Probably the best deal in that complex all year!
Market Rejects: As expected the first of the year has come and gone and with that come a slew of market rejects and expired contracts. Price, price, price! If you have expired…check your price! Also talk with an agent who is active in the market and truly understands what is happening. This week 20 condos were rejected by the market, 4 PUDs, 18 SFHs and 1 Investment property. Actually the investment properties were rejected altogether in 2009 with not one single closing.
More next week!
